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- USD/JPY remains below MA (200) H1
USD/JPY remains below MA (200) H1
Today, on the hourly chart, the USD/JPY demonstrates a continuation of a strong downward momentum that began on April 2. The moving average MA (200) H1 (147.94) also points to a general downward trend, as the price is below it. This indicates that bearish sentiments are preserved on a wider time horizon. MACD (5,34,5) shows a slight increase in the histogram, which can be regarded as a temporary correction after a strong decline.
The nearest support level is at 144.56, its breakout can intensify sales and open the way to 144.00 (psychological level) and 143.43. Resistance is 145.79 and then 146.33. But in the current conditions, the price behavior near 148.15 will be important - this is the key zone for determining the further direction of movement.
Resistance levels are at: 145.79, 146.33, 147.94
Support levels are at: 144.56, 144.00, 143.43
The main scenario for the pair's movement implies a breakout of the session low of 144.56 and a possible decline to 144.00
An alternative scenario implies a breakout of the session high of 146.33 and a possible growth to 147.94 (MA (200) H1)
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